BMO Capital Markets Issues Positive Forecast for TC Energy (TSE:TRP) Stock Price

TC Energy (TSE:TRP) (NYSE:TRP) had its target price raised by analysts at BMO Capital Markets from C$66.00 to C$70.00 in a research note issued on Wednesday,BayStreet.CA reports. BMO Capital Markets’ target price points to a potential upside of 2.04% from the stock’s current price.

A number of other research firms have also weighed in on TRP. Morgan Joseph upgraded TC Energy from an “underweight” rating to an “overweight” rating and increased their price target for the company from C$62.00 to C$78.00 in a research report on Friday, October 25th. Jefferies Financial Group increased their price target on TC Energy from C$64.00 to C$65.00 in a research report on Wednesday. Royal Bank of Canada increased their price target on TC Energy from C$67.00 to C$71.00 in a research report on Friday, November 8th. UBS Group upgraded TC Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 30th. Finally, National Bankshares increased their price target on TC Energy from C$70.00 to C$71.00 in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of C$69.54.

TC Energy Price Performance

TRP stock traded down C$1.00 during trading hours on Wednesday, hitting C$68.60. 1,041,431 shares of the stock traded hands, compared to its average volume of 6,852,991. The stock has a 50-day simple moving average of C$64.60 and a 200 day simple moving average of C$58.62. TC Energy has a one year low of C$43.83 and a one year high of C$70.24. The company has a market cap of C$71.34 billion, a P/E ratio of 20.73, a P/E/G ratio of 1.69 and a beta of 0.82. The company has a current ratio of 0.76, a quick ratio of 0.40 and a debt-to-equity ratio of 160.84.

TC Energy (TSE:TRP) (NYSE:TRP) last announced its earnings results on Thursday, November 7th. The company reported C$1.03 earnings per share for the quarter, beating the consensus estimate of C$0.97 by C$0.06. TC Energy had a return on equity of 10.68% and a net margin of 21.38%. The business had revenue of C$4.08 billion during the quarter, compared to analysts’ expectations of C$3.90 billion. Equities analysts forecast that TC Energy will post 3.5490515 earnings per share for the current year.

Insider Transactions at TC Energy

In related news, Director Trevor Ebl sold 9,554 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of C$68.48, for a total value of C$654,219.70. Also, Director Richard Prior sold 18,068 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of C$63.00, for a total value of C$1,138,284.00. Insiders sold 89,490 shares of company stock valued at $5,749,355 in the last three months. Corporate insiders own 0.03% of the company’s stock.

About TC Energy

TC Energy Corporation operates as an energy infrastructure company in North America. It operates through five segments: Canadian Natural Gas Pipelines; U.S. Natural Gas Pipelines; Mexico Natural Gas Pipelines; Liquids Pipelines; and Power and Energy Solutions. The company builds and operates a network of 93,600 kilometers of natural gas pipelines, which transports natural gas from supply basins to local distribution companies, power generation plants, industrial facilities, interconnecting pipelines, LNG export terminals, and other businesses.